Bank of America slapped with U.S. lawsuit over billion-dollar "hustle" of Freddie Mac and Fannie Mae.

Elizabeth Taylor is Forbes' new Top-Earning Dead Celeb thanks to Christie's auction.

Apple's iPad mini already has a Chinese knock-off, while US judge says Samsung infringed four Apple patents.

Facebook wins back Wall Street, affirms social dominance and shares soar as looks to rebuild confidence.

AT&T beats estimates in latest quarterly earnings report.

BlackBerry loses grip as go-to phone for US federal government.

Buzzfeed taps Rdio for "social music advertising."

Cisco will fund 12,000 meals for World Food Program via Facebook app.

Tom Cruise sues gossip magazines for defamation of character.Continue reading...

Google turns in soft quarter as PR fail pummels stock.

HSBC hit by worldwide cyberattack.

McDonald's profit falls as U.S. growth slows.

Abbott study of kidney drug is halted.

Apple's iPad Mini poised to cannibalize sales.

Lance Armstrong endorsement implosion toll reaches $30 million.

BBC director general to testify on Jimmy Savile scandal, as new head of BBC Worldwide named.Continue reading...

Collaborating with startups is becoming popular these days. GE funds a startup incubator program; PepsiCo is expanding its PepsiCo10 initiative, which pairs startups with brands such as Quaker; BMW's iVentures arm is a $100 million venture capital fund that's investing in mobile innovation; and Lexus is getting into the startup funding business.  Now you can add Mondelēz International to that list.

With a tagline of "The Future in 90 Days," the two-day old company's new Mobile Futures program was announced at the Mobile Marketing Association's Advertising Week conference in New York. The program is structured in two phases: scaling startup innovation, and creating entirely new mobile ventures by partnering entrepreneurs in the mobile space with "up to 10" Mondelez brands, as Mondelēz VP of Global Media and Consumer Engagement Bonin Bough told Ad Age.

Bough is bringing a solid track record to the task. He oversaw digital and consumer engagement at PepsiCo, including the now wrapped Pepsi Refresh Project crowdsourced community project-funding platform, before joining Kraft Foods in February. He's tapping that experience to spur mobile innovation at Mondelēz, the just-launched global corporate identity for Kraft Foods following Monday's spin-off of Kraft's North American consumer packaged brands.Continue reading...

AIG unveils new corporate logo as part of rebranding.

Sprint left behind as T-Mobile talks about merging with MetroPCS.

Boeing lowers global forecast as GE calls for inspections of certain Boeing models with its engines.

Air Canada debuts plans for low-cost carrier.

Airtime startup by Napster founders stumbles.

Alexander McQueen show sets Paris abuzz.

American Airlines finds seat problems on six aircraft.

Better Place CEO resigns from EV-charging-station startup.Continue reading...

Facebook launches "Gifts" under crafty data play and deletes fake "likes," dropping page views, as it teams up with Gates Foundation to launch apps for future college students.

BlackBerry maker RIM reports loss but sees cash pile grow.

Chrysler backs Motown musical.

Coca-Cola partners with Olympic medalist for soccer camp.

David Beckham nets hugely from his sponsorship deals.

GE is upbeat on industrial outlook.Continue reading...

Coca-Cola announces Global Fund donation at Clinton Global Initiative meeting, teams up with Segway creator on clean water project and launches corporate blog.

GE's Jeff Immelt joins the few brave CEOs on Twitter.

IBM targets Amazon in the cloud.

AirAsia creates child-free quiet zones on flights.

Arby's sees gains under new owners.

Barnes & Noble plans to launch Nook video service.

Chase Bank tops customer-satisfaction study.Continue reading...

Apple takes a subtle dig at Samsung in new iPhone ad as its supply is tested by record sales thanks to use of thin display.

Burberry tops London Fashion Week tweets thanks to One Direction's Harry Styles.

Dave & Busters prices IPO lower than expected.

Diageo is in talks about buying stake in United Spirits.

Estee Lauder develops brand just for China.

Ford's CMO promotes social- and product-dirven brand.Continue reading...

Apple flirts with first trillion-dollar valuation for a company as iPhone 5 first weekend sales top five million and Apple tops YouTube and Aston Martin as "coolest UK brand." Apple also halted production at Foxconn factory after mass brawl, and seen hogging new iPhone for its own stores. Its legal team has also asked CA judge to boost award from Samsung.

Alfa Romeo plots return to USA, with Chrysler helping Fiat.

American Airlines racks up flight delays and cancellations.

Applebee's reboots its marketing with inflatable dolls.

Boeing struggles with makeover of 777.

Conde Nast launches French Vanity Fair into economic headwinds and skepticism.Continue reading...